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There’s Just One Problem: AI Isn’t Intelligent, and That’s a Systemic Risk

The mythology of Technology has a special altar for AI, artificial intelligence, which is reverently worshiped as the source of astonishing cost reductions (as human labor is replaced by AI) and the limitless expansion of consumption and profits. AI is the blissful perfection of technology's natural advance to ever greater powers. The consensus holds that the advance of AI will lead to a utopia of essentially limitless control of Nature and a cornucopia of leisure and abundance. If we pull aside the mythology's curtain, we find that AI mimics human intelligence, and this mimicry is so enthralling that we take it as evidence of actual intelligence. But mimicry of intelligence isn't intelligence, and so while AI mimicry is a powerful tool, it isn't intelligent. If we boil off the mythology and hyperbole, we're left with another neofeudal structure: the wealthy will be served by humans, and the rest of us will be stuck with low-quality, error-prone AI service with no recourse. The promoters claim the mass culling of jobs will magically be offset by entire new industries created by AI, echoing the transition from farm labor to factory jobs. But the AI dragon will eat its own tail, for it creates few jobs or profits that can be taxed to pay people for not working (Universal Basic Income). Perhaps the most consequential limit to AI is that it will do nothing to reverse humanity's most pressing problems. It can't clean up the Great Pacific Trash Gyre, or limit the 450 million tons of mostly unrecycled plastic spewed every year, or reverse climate change, or clean low-Earth orbits of the thousands of high-velocity bits of dangerous detritus, or remake the highly profitable waste is growth Landfill Economy into a sustainable global system, or eliminate all the sources of what I term Anti-Progress. It will simply add new sources of systemic risk, waste and neofeudal exploitation.

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American Big Tech Companies Identified as Complicit with War Crimes of Israeli Zionist Extremists as Their Stock Market Value Continues to Crumble

More bad news for America's Big Tech industry, at the worst time possible, as the AI bubble continues to burst. While most of us living in the U.S. are fully aware that America's Big Tech companies, such as Google, Amazon, and Microsoft have become the new industry leaders in obtaining military contracts to support America's many wars, people in the Middle East have just recently learned this fact this week with a recent report showing how the Israeli military depends upon these American companies to bomb and kill Palestinians in Gaza, and they were probably involved in the recent high-level assassinations in Iran and Lebanon as well. While this recent news that American Big Tech companies are providing military assistance to Israel may seem insignificant to those of us living in the West, I can assure you that this is very significant news in the Middle East, and for the future of American Big Tech companies. As I write this on Wednesday, August 7th, 2024, an emergency meeting of the Organization of Islamic Cooperation (OIC) just ended a couple of hours ago in Saudi Arabia, to discuss how to deal with Israel, whom they claim has now become a rogue terrorist state. As this war in the Middle East proceeds, there will be a lot of pressure for Middle Eastern countries to divest their investments into companies who support Israel, which has already been happening in the U.S. at American colleges and universities since earlier this year. This spells trouble for the rich Muslim Gulf States who are heavily invested in Big Tech and Silicon Valley, especially Saudi Arabia, who owns significant stock in Musk's X, and has a Venture Capital firm that invests $billions in American Big Tech. Saudi Arabia has been increasing their investments in American Big Tech companies for the past several years in their desire to diversify their national assets beyond just petroleum and petroleum products. How much longer will they keep those investments in place, as it becomes more and more obvious that they are overpriced due to this AI bubble that is crashing, and that now the entire Muslim world associates these Big Tech companies with Zionist Israel and the genocide currently happening there? Oh yes, this is a VERY BIG deal, and the safe bet here is that the wealthy Arab states, beginning with Saudi Arabia, will be compelled to divest their interests in American Big Tech.

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The U.S. Financial System Built upon a Foundation of Lies is Crashing – Beware of the Coming Bank Bail-Ins

The Big Tech crash that I have been warning about since the last quarter of 2022, has now arrived, and it is crashing our entire economy. It started in 2022 with the blowup of the Cryptocurrency Ponzi scheme called FTX, whose CEO now sits in prison serving a 25-year sentence for fraud and conspiracy. This started massive Big Tech layoffs that have continued through this year, and in March of 2023, some of the largest Big Tech Silicon Valley banks failed. But a total collapse of the U.S. financial system was averted by a new Ponzi scheme, the AI bubble that I have been warning about for over a year and a half. Now everyone is admitting that it has been a bubble all along as investors look to dump their technology stocks as quickly as possible, as the "Magnificent 7" companies (Apple, Google, Facebook, Amazon, NVIDIA, Microsoft, and Tesla) have now lost a combined $1.28 TRILLION in market cap over three sessions. Anyway, the purpose of this article is not to gloat and say "I told you so" for warning about this for almost 2 years while we are seeing it happen today in real time as Big Tech crashes, but to warn you what is inevitably going to happen next, so you can be prepared before it happens: Bank Bail-ins!

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Elon Musk Shows up for Netanyahu’s Speech to Congress on the Same Day Tesla Loses $90 Billion in Big Tech Market Bloodbath

In a Wall Street bloodbath today that saw significant losses in the DOW, S&P 500, and Nasdaq, the Big Tech "Magnificent 7" companies (Apple, Google, Facebook, Amazon, NVIDIA, Microsoft, and Tesla) lost $1.7 TRILLION in market share, in just one day. Shares of Tesla stock were down the most, losing 12.3%, close to a $90 billion loss. Tesla's quarterly report on earnings yesterday was not as positive as shareholders had expected, and some seem to be waking up to the fact that Musk may not be as smart as everyone thinks, as he continues to sell the future and his AI hype, while sales of his Tesla vehicles are declining, as are other EV sales. Ford also posted another $1 billion loss on electric vehicles last quarter. The fools who still believe in Musk think Teslas are different from other EVs, and insist that their investment in Tesla is not really an investment in an automobile manufacturer, but in an AI company that is going to build robots and self-driving cars. The Big Tech crash is coming. Today might have been the start of the ultimate crash as reflected in the stock markets, but it will probably take some more time for people to realize that their faith in the technology is not real, and that one cannot just wait for the future forever. Meanwhile, as Kamala Harris and JD Vance, along with many others were no-shows at the Benjamin Netanyahu show in Congress today, one person that few expected to see showed up: Elon Musk.

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Lack of IT-Skilled Human Workers is Leading to a Cyber Pandemic – 500,000 Cybersecurity Jobs Unfilled in the U.S.

As the full effects of the Microsoft glitch that took down so many businesses and government agencies this past Friday are still being evaluated, the vulnerability of a software system run by a cybersecurity firm is presenting new information to hackers and exposing just how unprepared the U.S. Government is to protect our country against cyber attacks that are a real threat to national security. After the CrowdStrike failed software update that infected 8.1 million devices with cascading effects spreading to millions, if not billions, of other devices and computer systems, the threat of a Cyber Pandemic is now very real. And the main reason that the U.S. Government is powerless to stop something like a Cyber Pandemic is not because of a lack of technology or computer resources, since the U.S. is home to the largest technology companies in the world, but it is due to a lack of human resources: Cybersecurity professionals. In 2021 CNN published an article with the title: "Wanted: Millions of cybersecurity pros. Salary: Whatever you want". The article highlighted the increasing cyber attacks in the U.S. and the lack of cybersecurity experts to prevent these attacks, with over 300,000 cybersecurity job openings going unfilled. Fast forward to today in 2024, and the situation has only become worse. A few weeks ago (June, 2024), members of Congress raised concerns over the shortage of cybersecurity professionals, which has now grown to a half million open jobs that cannot be filled.

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One Single Computer Glitch Could Cost Tens of $Billions of Losses, Showing How Frail Technology Has Become

This past Friday morning brought headlines such as "Largest IT Outage in History!" and "Just Like Y2K Except this Time it is Real!" Hundred of millions, if not billions, of people and businesses around the world were affected, from airlines to FedEx and other delivery companies to financial institutions to hotel reservations and personal PC users. The culprit was reported as a Microsoft Windows update to a software program that runs on many Windows computers, from the cybersecurity firm CrowdStrike. Microsoft has reported that the glitch affected 8.5 million devices. Since the problem is still ongoing as I write this on Sunday, there is no way to know what the cost is to the global economy because of this glitch. Estimates at this point are claiming it will top 1 $billion in losses. However, I can assure you that those costs will well exceed this estimate, and will easily be in the tens of $billions, just from the loss of online ecommerce sales alone, not to mention every other industry that was affected where sales are not conducted online. I have run my own ecommerce store for over 20 years, and I have a pretty good feel for how sales go each day, based on day of the week, current sales we are running, etc. Yesterday, (Saturday 7/20/24) we had our lowest day in sales for many years, and I would estimate that we lost about 50% of our sales yesterday, due to this problem that obviously prevented many of our customers from ordering online. Globally, there were $5.8 trillion in online sales in 2023, and the forecast for 2024 is $6.3 trillion in sales. $6.3 trillion in online sales for one year is about $16.5 billion in sales every single day. Let's be conservative and estimate that about 30% of ecommerce sales were lost in just one day, yesterday. That would be about $5 billion in lost revenue, and that is just for one day, and only online sales, not sales lost in the airlines industry, hotel industry, freight delivery industry, etc. This loss could easily be in the tens of $billions, if not more, just for ONE single computer glitch, and we will experience the economic ripples of this for the rest of the year.

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Elon Musk: World’s Biggest Con Man, or Just a Fool? Big Tech in Panic Mode!

While Elon Musk is taking advantage of the current political climate after the Trump shooting incident and claiming to support free speech and be against online censorship, his X platform has been busy the past couple of days deleting posts of the Trump shooting that do not fit the current narrative from the Republican platform, clearly betraying what he claims about being against "online censorship". And as he espouses views that appease those on the Right and on the conservative side of the political spectrum by attacking Gov. Newsom as he pledges to move his companies from California to Texas, the reality is that his empire that has made him the richest man in the world appears to be crumbling, and in danger of completely crashing. So let's take a peek behind the scenes and ignore Elon Musk's rhetoric, and let's see what is happening in the real world with the companies he owns, and where that evidence, as opposed to rhetoric, leads us, because Big Tech is in full panic mode right now.

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The World’s Rush to Reduce Dependency on U.S. Dollar Accelerates as the Great AI Bubble Burst Apocalypse Draws Closer

While I have been reporting on the Big Tech crash that started accelerating in 2022 for over a year now, others in the financial sector are finally beginning to see where the current AI hype is leading the U.S., and using such words as "apocalypse" in terms of what is going to happen when this AI bubble (which almost ALL economists now admit is a real thing) bursts. ZeroHedge News reported this week that Goldman's head of research has apparently "seen the light" when it comes to the AI bubble, and "is downright apocalyptic on what the current AI bubble will lead to; think dot com bubble on steroids" and that it "will be the biggest bubble in history." While AI has sucked up all the capital in the U.S. economy for the past year and a half to create this economic apocalypse that now awaits us, the true extent of the crash of Big Tech goes far beyond just chat bots and LLM AI. Indeed, when the history books are written in the future about the collapse of the Great American Empire, chief among its causes will be our over-reliance on technology and the false Darwinian belief system that whatever humans can do, machines and technology can do better as they evolve. This reliance on technology started in the 1800s when America abandoned using natural plants, herbs, and things in creation for healing, and when traditional methods of healing, such as homeopathy, were banned in favor of laboratory-produced pharmaceutical poisons, starting with vaccines, in the false belief that man's technology could eliminate human disease. Today, the field of "biotech" still earns $trillions while Americans get sicker and sicker, creating a highly medicated society addicted to their products, which are now the #1 cause of death in the U.S Another great failure in American "biotech" technology is the destruction of the family farm in favor of mega food companies and the proliferation of genetically modified foods, along with all the chemicals needed in pesticides and herbicides to even grow crops in highly industrialized mono-cropping systems. Meanwhile, the non-Western countries of the world are finally teaming up together to form a new economic system that does not allow the warmongering United States to impose economic sanctions against them if they don't accept American "freedom" and become a "democracy" like us. It was announced this week that the two most sanctioned countries in the world by the U.S. today, Russia and Iran, have partnered together to form their own credit card payment system. Also being reported this week is the announcement that the BRICS nations are launching their own financial system.

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Pushback Against AI Hype is Increasing as AI Failures Continue to Increase

As Silicon Valley investors continue investing in the AI hype that started at the end of 2022 with Microsoft's release of ChatGPT, many now are beginning to wake up to the fact that AI's promises are still all hype at this point, and may never develop into the techno-prophecies that continue to make the news each day. LLM AI's failures after its introduction over a year and a half ago now, are starting to wake up investors and others who look beyond the hype. A couple of weeks ago Jeffrey Funk and Gary Smith published an article on Market Watch, an investor go-to source owned by the Dow Jones company that includes Barron's and the Wall Street Journal, titled: "Big Tech’s ‘fake-it-till-you-make-it’ hype is now infecting AI". This is still the minority view on Big Tech and AI, to be sure, but that is only because there are still too many Silicon Valley Billionaires and Venture Capital firms with way too much money to spend, and are willing to take a chance on investing in science fiction with the hope and belief that it will some day all come true in the future. Once the money dries up, which may happen a lot sooner than Silicon Valley enthusiasts realize, all this hype will come to an end. Some, however, are not waiting for that crash to come, and are already abandoning AI, realizing that a year and a half has been sufficient time to actually produce something of value in the real world, because what is currently being seen in the real world where AI is being implemented, is not positive, but negative. For these business leaders in the REAL WORLD, there are calls to stand against AI, and be "pro-human." Consumers still have the most power to stop AI and Big Tech, by refusing to use their products. Forget about voting in national elections, and start voting with your dollars instead! This is what the tyrants cannot control, and where the REAL voting power exists. One sector where we are currently seeing pushback against technology is in the grocery self-checkout market, where major grocery retailers like Walmart and Kroger are actually abandoning this technology due to customers not wanting to use it. The tyrants cannot rule over the masses without the consent of the masses. This has ALWAYS been true, because we vastly outnumber them.

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The Banking Crisis is Accelerating in Big Tech Banks: 10 Million Americans Cannot Withdraw their Funds on One FinTech App!

The technology that America's infrastructure is now hopelessly dependent upon continues to fail, as it was reported this week that one of the most popular FinTech (Financial Technology) apps, which are supposed to "reinvent" banking by getting rid of such pesky nuisances such as over-draft charges, having to wait until your paycheck clears before having access to funds, and many other wonderful Big Tech promises that have convinced tens of millions of people to open accounts on these FinTech apps, has left millions of customers today without access to their funds on deposit. These funds on deposit with these FinTech apps are NOT FDIC insured. And a judge just ruled that if you lost your money on this app, too bad. As I have been warning for over a year and a half, if you trust in the technology, you risk losing everything as a reward for your faith in Big Tech, as the Big Tech Crash that started in 2022 just after the demise of FTX, with its billionaire founder now sitting in prison, is now accelerating.

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The Government is Tracking You Through Your Vehicle as You Drive if You Have a Newer Vehicle Connected to the Internet

I have been warning our readers for the past few years that the Government has the ability to track you through your vehicle if you own a later-model vehicle that is connected to the Internet. But today, we now know that this is not just a theory, but that it actually has been happening, as two U.S. Senators have discovered that eight automakers will give up users' location data to police without requiring a court-issued warrant. We already knew that these car companies tracked and stored this data, as last September I published a report published by the Mozilla Foundation on every brand of car sold in the U.S. and reported: "All 25 car brands we researched earned our *Privacy Not Included warning label — making cars the official worst category of products for privacy that we have ever reviewed." They concluded that your car spies on you more than your cell phone and smart home devices. This announcement by the Senators follows other recent announcements that the government has passed legislation that new cars in the future must be outfitted with a "kill" switch that allows law enforcement to disable your vehicle.

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JPMorgan: “ChatGPT has Driven Half the Gains in the Stock Market this Year” – Mega Financial Bubble About to Explode

I have been reporting on the Big Tech Crash since it started last year (2022). This crash picked up speed in 2022 following the collapse of the mega Cryptocurrency company FTX, which revealed a huge criminal Ponzi scheme that raked in $billions while its founder and associates reveled in their wealth with drugs, wild parties and sexual orgies. Criminal prosecutions and other civil lawsuits are still ongoing, and we may never know just how far this scandal reached, and the extent of those involved, which includes many famous professional sports figures. The Miami Heat NBA Basketball team's arena was even named after FTX, and had to recently change its name just after FTX had purchased a multi-year sponsorship of the arena. Here in 2023, however, investors have continued to pour money into Big Tech stocks, in spite of the losses they suffered in 2022 and the hundreds of thousands who have now been laid off by these companies, and I have been warning for the past 3 months that this is a huge bubble because most of these investments are going into the newest fad in Big Tech: Artificial Intelligence Large Language Models (LLMs) like ChatGPT, in spite of the fact that these new software products are not producing any revenue yet. And in a report published today about an analysis from JPMorgan, the analysis stated that "The interest sparked in artificial intelligence driven by ChatGPT and other large language models has driven more than half the gains in the S&P 500 this year." WOW!!! That's worse than even I expected! Not only is Big Tech in trouble and about to crash, so is the entire United States financial system.

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Will America’s Addiction to Computer Technology be it’s Downfall?

America is the most technology-dependent society in the world, by far. As I reported last week, the United States has the ability to spy on its citizens at a greater percentage than even China, due to the fact that a higher percentage of U.S. citizens are connected through technology and their cell phones than citizens in China, where over one third of the people in China do not even own cell phones yet. There is another way to measure America's dependency on technology besides cell phone and Internet usage, and that is by looking at how many data centers are in the U.S. that host all the server hardware that is required to keep all this technology running. In this category, the U.S. has no serious competitors. In fact, the U.S. owns more data centers than almost all other countries of the world combined, according to Statista.com. These physical computers, which are housed in physical buildings in physical locations, require tremendous resources to operate, which include energy resources and human resources, to keep it all running. Almost everything connected to the Internet today is run by these data centers that provide Cloud Computing. And all of these computers are primarily owned by three companies: Amazon.com and "Amazon Web Services" (AWS), Microsoft and "Microsoft Azure," and Google with their Cloud Services. If an enemy of the United States wanted to totally cripple our country, including military and intelligence operations, all they would have to do is take down the data centers owned by these three companies. The physical locations of these data centers is a matter of public knowledge, and I was able to find lists of their physical locations by using their own search engines, in less than 5 minutes.

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Venture Capital Backed Substack Latest Big Tech Company to Report Huge Financial Losses

As we watch the collapse of Big Tech and their financial institutions, popular content platform provider Substack's recent financial statements show that they too may soon be a casualty of reckless spending by Silicon Valley venture capitalists. It was reported yesterday that recent financial filings with the SEC show that Substack is burning through cash too quickly, and they have been having a hard time raising new capital. Substack has been in the news this week for another reason: a public argument between journalist Matt Taibbi, famous for publishing "The Twitter Files," and the current owner of Twitter, Elon Musk. Taibbi has stated he is leaving Twitter over alleged censorship on Twitter regarding Substack writers, something Elon Musk denies. As much as Taibbi and others are trying to frame this conflict as censorship by Twitter over Substack because they are afraid Substack is going to compete with them, the evidence seems to point to the opposite, given the fact that Substack is reported to be bleeding huge financial losses, and that venture capital firms turned them down in 2022 to raise more money. That includes Andreessen Horowitz, who is heavily invested in BOTH Twitter and Substack, as well as Elon Musk himself, who reportedly had an opportunity to buy Substack last year, but declined. All the evidence points to the same kind of financial troubles that other Big Tech companies are currently suffering which is leading to massive layoffs: "cheap money" has now disappeared since the Fed began raising interest rates, and these bloated Big Tech companies have been caught with their pants down, showing that their business model of investing first, and hoping you can earn a profit later, just won't work anymore.

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Big Tech Fail: Not Enough Computers in the U.S. to Develop New AI Software

I recently reported how America's faith in Artificial Intelligence (AI) is about to destroy the U.S. economy, as investors are pouring $BILLIONS into developing new AI software, which is projected to be a $1.59 TRILLION industry by 2030. And news continues to be reported on just how much of a fantasy this faith in AI, and technology in general, is, as we are being setup for perhaps the largest economical bubble to burst in the history of the U.S. Today, The Information confirmed one of the reasons I gave for a possible imminent collapse of the Tech sector based on this rush into AI: there aren't enough computers in the U.S. to run all of this new, power hungry, desire for these new AI toys that do NOT produce any revenue yet. "AI Developers Stymied by Server Shortage at AWS, Microsoft, Google - Startups and other companies trying to capitalize on the artificial intelligence boom sparked by OpenAI are running into a problem: They can’t find enough specialized computers to make their own AI software. A spike in demand for server chips that can train and run machine-learning software has caused a shortage, prompting major cloud-server providers including Amazon Web Services, Microsoft, Google and Oracle to limit their availability for customers, according to interviews with the cloud companies and their customers. Some customers have reported monthslong wait times to rent the hardware. Cloud providers expanding their data centers also are running into problems getting enough energy sources to power them, according to a February report from commercial real estate firm CBRE." The Technology Community here in 2023 has obviously not learned the lessons from the Big Tech bubble burst and economic fallout in the early 2000s, and this bubble looks to be a lot worse, given how their largest bank, Silicon Valley Bank, has already failed, and many other banks in the U.S. are on the brink of collapse. These gigantic Tech companies, such as Apple, Google, Amazon, and Microsoft, are running most of the economy today, and if they crash, so does America. Here is more evidence that Big Tech is recklessly overspending what is left of America's wealth, and that our reliance on Technology could be close to collapsing what is remaining of the American Empire.

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America’s Faith In Technology is Leading the Financial Collapse of a Once Great Country

Today's meeting of the Federal Reserve and their announcement regarding interest rates was, by far, the most anticipated financial announcement so far in 2023. Since the start of the banking collapse of the past couple of weeks, there has been widespread speculation about what the Fed was going to do today. Would they announce rate cuts and the return of easy money, which would throw a life preserver out to America's smaller banks, or would they continue with rate hikes in an attempt to lower inflation, but potentially doom hundreds of America's smaller and mid-sized banks to collapse? It was a no-win situation for the Fed, and most were anticipating at least a halt in rising interest rates, if not the announcement of rate cuts. In the end, the Fed announced another rate increase, stating that rate cuts were not on the table for the rest of 2023. Trying to calm the nerves of investors on Wall Street, Federal Reserve Chairman Jerome Powell announced that "all depositor savings" were "safe," and that they were prepared to "use all tools" to keep the U.S. banking system "safe and sound." However, Treasury Secretary Janet Yellen, who was testifying before a Senate Appropriations subcommittee at the same time Powell was making his remarks, was asked if the FDIC was going to raise the limit on bank deposits that are insured above the current $250,000 limit, and she replied: “This is not something we have looked at, it’s not something that we’re considering.” Whoops! The stock markets then began a steep decline in the final hour of trading, as soon as she said that. Bank stocks tumbled once again, but they are not the only ones looking at disaster. The automobile industry and the housing market is also in big trouble now, as U.S. consumers' ability to borrow money and make major purchases will now get even worse. And just as a reminder, this current crisis of liquidity and downward spiral all began last year when FTX blew up, and the Big Tech sector began massive layoffs. Big Tech's main bank, Silicon Valley Bank, the 15th largest bank in the U.S., was the first to crash. And now, America's reliance on technology is crippling this nation, and it can only get worse, as all of this technology, such as AI which is eating up $billions of cash in Chat bot and other software right now, is all dependent upon hardware, and most of that is produced in China and Taiwan. China can now easily cripple the United States and bring us to brink of collapse, without firing a single shot or launching a single missile, by simply cutting off their exports to the U.S., and blocking exports from Taiwan.

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Banking Crisis Worsens: Swiss Bank is First “Too Big to Fail” Bank to be Bailed Out as Saudis Withdraw Support

Switzerland's second largest bank, Credit Suisse, which has been experiencing bank runs and plummeting stock valuations since the end of 2022, became the first SIFI (systemically important financial institution), or "too big to fail" bank, to crash today forcing regulators to step in and ensure a bailout. The Saudis almost single-handedly crashed the U.S. Stock Market (and stock markets around the world) this morning when they announced that they were not going to put any more money into the failed Swiss bank. While the U.S. Stock Market did end lower today, it most assuredly would have been a blood bath if Swiss Regulators had not stepped in to ensure the world that it was going to bail out their troubled bank. This was after European markets had closed, however, and European banks' stock values lost 7% at end of trading in Europe today. Since a simple statement made by Saudi National Bank Chairman Ammar Al Khudairy almost crashed the entire world's financial system today, what does that tell you about the frailty of the current banking system?

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Moody’s Downgrades Banking System from “Stable” to “Negative” – Crypto Takedown in Place with “Operation Choke Point”?

In spite of the fact that President Biden and U.S. Treasury Secretary Janet Yellen have told Americans that the U.S. Banking System is "safe and sound," Moody's Investors Service today announced that they had downgraded the U.S. banking system to "negative" from "stable" to reflect “the rapid deterioration in the operating environment.” They also announced today that they were studying First Republic’s debt rating for a potential downgrade, along with five other regional banks. Sifting through the plethora of news today regarding the banking industry's woes, there are some who are now questioning why the Feds closed down Signature Bank on Sunday, when other banks appeared to be worse off. This has led to speculation that cryptocurrency banks are being targeted, and the revival of the "Operation Choke Point" conspiracy theory.

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WARNING: Big Tech Banks Collapsing! Infection Spreading to Other Sectors

The collapse of the banking industry has started, with FDIC-insured Big Tech Silvergate Bank announcing yesterday they were liquidating their assets and closing down. Silicon Valley Bank also announced yesterday that they have lost $10 billion, while trying to reassure depositors to just "stay calm," suggesting that their collapse is also probably imminent. I don't think there has been a more significant news event in the financial sector since the financial crisis of 2008, and yet at the time of my publishing this article, none of the corporate media is treating this as a headline story, unless it is a publication that focuses only on financial news. This is the beginning of the storm that should have happened last year after FTX blew up, and probably did, but the infection that I have been calling The Big Tech Crash that started in 2022 has only just now begun to reveal how serious this crisis is, which can no longer be hidden from the public as the bank failures have now begun. Bank runs that began last year, are only going to significantly increase in the days and weeks ahead. And this infection is not confined to Big Tech and their banks, but is spreading fast to other sectors of the economy.

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Big Tech Crash Accelerating in 2023 – Billions Lost on AI, Bank Failures, CHAOS!

The Big Tech Crash of 2022-2023 is accelerating here in 2023, and yet almost nobody is sounding the alarm as to just how significant the crash is going to affect everyone's lives. Instead, we are pummeled every day with reports in both the corporate and alternative media about how the technology is advancing, and that AI is poised to take over the world and replace humans. Nothing could be further from the truth. While it is easy to collate the news and come to this very simple conclusion, that Big Tech is crashing, I have yet to see one other journalist refer to what we are now seeing as a "Big Tech Crash" which is very rapidly making the Dot.com technology crash of 2001 look like a walk in the park by comparison. According to Layoffs.fyi, there have now been 125,977 layoffs in Big Tech for the first two months of 2023. There were 161,411 layoffs in Big Tech in all of 2022. As we complete just the 1st week of March, 2023, things are only getting worse, much worse.

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